Middlefield Banc (NASDAQ:MBCN) Stock Rating Lowered by ValuEngine
Separately, Zacks Investment Research upgraded Middlefield Banc from a hold rating to a buy rating and set a $26.00 price target on the stock in a research report on Friday, October 25th.
NASDAQ MBCN opened at $24.10 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. Middlefield Banc has a 12 month low of $19.25 and a 12 month high of $25.24. The firm has a market capitalization of $151.27 million, a P/E ratio of 12.62 and a beta of 0.25. The business has a fifty day simple moving average of $44.57 and a 200 day simple moving average of $43.30.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in Middlefield Banc by 687.3% in the second quarter. Acadian Asset Management LLC now owns 2,039 shares of the bank’s stock worth $84,000 after acquiring an additional 1,780 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Middlefield Banc by 311.4% in the second quarter. JPMorgan Chase & Co. now owns 3,587 shares of the bank’s stock worth $142,000 after acquiring an additional 2,715 shares in the last quarter. Morgan Stanley boosted its holdings in Middlefield Banc by 105.0% in the second quarter. Morgan Stanley now owns 3,631 shares of the bank’s stock worth $149,000 after acquiring an additional 1,860 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Middlefield Banc in the third quarter worth $199,000. Finally, YHB Investment Advisors Inc. bought a new stake in Middlefield Banc in the third quarter worth $209,000. Institutional investors own 28.71% of the company’s stock.
Middlefield Banc Company Profile
Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. It accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Middlefield Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlefield Banc and related companies with MarketBeat.com's FREE daily email newsletter.